Listed below are ten terms followed by a list of phrases that describe or characterize five of the terms.Match each phrase with the best term placing the letter designating the term in the space provided.
-_____ Inventory costing method that matches each unit of inventory with its actual cost.
A) Ending inventory
B) Freight-in
C) Cost of goods sold
D) LIFO conformity rule
E) LIFO
F) Freight-out
G) LIFO reserve
H) Specific identification
I) FIFO
J) Average cost
Correct Answer:
Verified
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